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the economy on both sides of the debate, and felt that it wanted to try my hand at clarifying it. i felt like i needed to make my contribution as best i could, because i done that at bain capital and felt like i need to try something different and it and i had to try to do something that was important. >> host: you mentioned of bain capital. there's a lot of interesting ideas and thoughts in this book. maybe you could tell me where these ideas come from. i these ideas that are developed over a long time from your career in finance? who are your influences in how you think about the economy and what's in the book? >> guest: they probably, it evolves from debates i had with young kids that came out of top schools, came to work for first been consulted and bain capital who wanted to argue economics and politics, and i can't think when you get to be 40 or 45, and i think it evolves from that. but i also benefited greatly from a friendship i had with bruce who is a professor at columbia who i was able to make the arguments to any would frankly say you're right on this but you're stepping on a land
, not just access to travel, but also access to the tourism economy that flourishes in the city. >> i just want to address the technology point really quickly. we try and emphasize the human aspect of this, whether it is on the website or whether it is through the iphone app. other people use a device that we built, that lets you share a car more conveniently by letting the richer unlock the car with their smartphone. even with that, we really try to connect the people who are sharing because a lot of people to accept rentals just with the kit and may never meet the people they are sharing with. we tried to encourage the parties to get to know each other, trying to just display your interest or so many things i can think of that our websites due to show who this person really is. they take their photo. i think part of this is about trust, and it is about letting -- the things we do to encourage trust and the things you do as a responsible member of the sharing community to insure you are doing your due diligence as well. when two people -- first off, the one example i want to bring is that
're in a very slow economy. so i think that in this particular third-quarter earnings period the chance of a good surprise, a meaningful good surprise or a meaningful disappointment, it's pretty low. the street expects poor earnings comparison. that is what we're going to get. whether you are a couple percent decline or a couple percent gain. it's really not that much different. so it's looking ahead. remember earnings are a trailing indicator. >> so are we going to get a surprise or a disappointment you think from alcoa. everybody looks at this as setting thtone for trading as you mentioned. it will be the first dow component to report. it also when you look at the company, it has businesses in autos, aerospace, packaging, construction, so it is kind of a bellwether for the economy. what will those alcoa earnings tell us. >> well, alcoa reports first all the time, obviously. and i don't think that is a good idea to use that as a bellwether for earnings. think of the sector that alcoa is in. materials are going to have some was comparisons, really, energy and materials are going to be t
is suffer it has been the last four years. >> the economy is suffering under the government intervention. we often times don't think of regulations as being a tax. it is a tax not only on wealth creation but individual freedom and take the credit card act that was regulation and pass , a few years ago and had hoped to help the middle class . it made credit more expensive and difficult to get. when government steps outside to protect individual rights wealth and destruction for the middle class and everybody else. >> it is all packed down. you know what, anything you do to corporate america hits my wallit. dodd-frank hits my wallet. wayne said we don't have a comprehensive energy policy. gas prices affect my wallet. nothing is contained. my costs are not contained in the last four years and that is an indirect tax. >> exactly john layfield always say it about the energy policy. but wayne, here is the thing. higher gasoline prices and especially in california, all of that is affecting the middle class and not getting better. it is getting worse over the last several months. >> that's true . tr
expect. and, we'll get inside the brainstorming session of politicians who hope to revive the economy. what to watch in the stock market ahead of tonight's vice presidential debates. plus, will oscar buzz surrounding a new movie help put it at the top of the box office heap? and are traders hopping in the costco shopping cart? first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's thursday, october 11th. i'm angela miles. in today's first look: debate night as vice presidential candidates joe biden and paul ryan square off in primetime. yesteday turned into another downer for the market. alcoa and chevron weighed heavily on the dow. gold ended the session flat and oil dipped by nearly a dollar. and the winter heating outlook is in. following last year's warm winter, some americans will get a sticker shock this year, especially those using heating oil. those bills are projected to rise 20%. lately the hot market has been cooling off. phillip streible of rjo futures joins us. good morning to you. what's your
,000. and so we're seeing steady improvement in this economy. i will talk for a minute as employer. i've been in the private sector for two decades. i'm in a community that had double-digit unemployment. we're seeing job growth and seeing employers beginning to hire again. would i say this i have every faith and confidence that the data put out by the federal government is fair, nonpartisan. tony who was, george bush's deputy press secretary said of course these aren't manipulated. melissa: i didn't accuse you of manipulating them. i don't for one second doubt them. i'm saying the two surveys, the numbers are very different. 1, one, 8 -- 873,000 added. but 750,000 showing up working on one but not showing on payrolls. that means they're not working in offices. maybe they're selling stuff on ebay, working part time. doing things that don't show up. how do you reconcile those 7508,000 people who aren't showing up on payrolls? >> well, i'm not sure i can specifically reconcile. i will tell you these surveys tend to have lags in them. again the trend line is absolutely clear. 5.2 million jobs add
in infrastructure, if we level the playing field, we will grow the economy. frankly, we have a ball and chain. it is congress. congress is holding us back. we need to change congress in two ways. we people who are more fiscally responsible. when the people who know the basics of how to work together. you will hear these things a lot tonight in my comments. i was the governor who drew top tax fraud. i had to cut $5 billion from the state budget, including my own salary. i'm the only governor in modern times who left the office with a smaller general fund budget and when i started. i know how to be fiscally responsible. my opponent when into the united states senate in 2001 with the biggest surplus in the united states and six years later left with massive deficits. during his time in the senate, the national debt went up by $16,000. he conceded that spending was a problem in the senate. we also have people who need to know how to work together. i learned to cut crime bills and the economy. my opponent said his job was to not democrats softly. he took this similar position in the senate, fighti
in the first place. wall street cannot be allowed to be reinstated. it drove our economy off the cliff and people tried to punish our records but they were not the ones that drove off the cliff. yet that is where the budget goes to recoup. it's time for us to have responsible regulation that makes sense. >> thank you very much >> moderator: final question i will be asking. you have three minutes to both answer the question and then make your closing remarks. mr. renacci, you talk a lot about a bipartisan group that you are a member of, 16 members, eight republicans, eight democrats, and devotee sutton you talk about reaching across the offer cash for clunkers. no single party can have all of the good ideas. i wonder what you heard from your colleagues on the other side of the all that makes sense, and what are you doing specifically to bring the governments instead of gridlock to the nation's capital? and i think we split ahead of time, and the first response, final response will go to congresswoman sutton. sutton: thanks very much for the question. i think building those relationships
the unemployment rate was 7.8% in september. that is down three tenths of a point from august. the economy created 114,000 jobs and the labor department revised upward the job creation numbers for the previous two months. it now says 181,000 jobs were created in july and 142,000 in august. a total of 86,000 more than first reported. we asked anthony mason to tell us what's behind these improved numbers. >> reporter: in circle pines, minnesota, where delkor systems makes food package magazines, c.e.o. dale anderson has hired 40 people this year and now has 160 employees. >> i think the economy has really -- it's picking up. >> reporter: ryan is one of these new workers. after leaving his job in construction, he retrained to become a machinist. d i chose manufacturing for the reasons that, you know, it's not -- doesn't seem as affected by small swings in the economy. >> reporter: delkor tripled its research and development budget during the recession. it's paid off. anderson is building this new heant. >> that's the reason we're moving and we have plans to continue hiring. >> reporter: nationally th
, how would you describe the jobs economy and right now? guest: this is the weakest recovery we have had since world war ii. the jobs numbers each month, we have averaged around 145,000 jobs created per month this year. that is barely enough to keep up with the growth of the working age population. and it has been a somewhat brazilian recovery in that there have been a lot of fears that we would go back into recession at various times and that has not happened. the overall economy has grown roughly 2% since the recession ended in june, 2009. that is a fairly weak growth rate, particularly after the death of the recession. by many measures, this is easily the worst since the great depression corporate -- the great depression. the modest and sometimes weak growth we have had has made it very difficult for the unemployed. we have long-term unemployed, those are of work for six months or even a year, that has been a record -- at record levels. ben bernanke has long term crashes -- the prices of long- term unemployment. -- the crisis of long-term unemployment. host: let's begin with a call fr
on the government? >> that's two questions. it is partly the result of the sanctions. iran's economy is being squeezed. it can't sell oil that it wants to in the quantities that it wants to. the result is there is no confidence in the local currency, the rial. but as yet, it hasn't had the effect of changing tehran's mind in its nuclear program. the first indication which would be a willingness to cooperate with the rest of the world and to answer some rather pertinent questions about its nuclear program. what was it doing and what were those activities all about? melissa: in the meantime we've been hearing reports about this growing rift between ahmadinejad and the ayatollah khomeni. do you believe that and how does that change the situation? >> it helps the situation but it doesn't really change the situation. confusingly iran has not only a president, ahmadinejad but also a supreme leader, ayatollah ali khomeni. the supreme leader, as the name would suggest, is much more senior person than the president and the problem here is that although ahmadinejad was khomeni's candidate for the job,
reported having jobs. senator ayotte, isn't the economy getting better? well, i think, what is disappointing about the report is the down tick we saw in unemployment is because of part-time work, for economic reasons, so people who want full-time jobs, taking lower pay, you can't support a family on part-time work. and of course we still have the sad fact that we have the lowest labor participatings rate since 1981, and if the number of people who were working or participating in the workforce were the same as when the president came into office the unemployment rate would really be 11%, so, i don't think there is any cause to celebrate, here and i think if you told the american people four years ago, that the unemployment rate is going to be 7.8%, at this point, during the president's term, i don't think anyone should be satisfied or happy with that. >> chris: governor, are you satisfied for happy. >> i don't think any of us should be happy, we want to return to full employment. and, what we have seen now is 31 months in a row, consecutive months in a row of private sector
. that promise is rapidly slipping away because our economy is on the wrong track. 170,000 people woke up in our state this morning without a job. we can get our economy back on track if we get our people back to work. i have a plan to do that. i have been there. i've been bankrupt. i've lost everything and i have been able to come back. that's what we need a -- that's what we need to do. the plans my opponent has support in washington has only made things worse. you can look it a path for someone who has created millions of jobs or you can look at the path for someone who's going to push the economy of the fiscal cliff. >> thank you very much and thank you to channel three. i'm looking forward to this morning. i am a product of connecticut possible class. my grandfather worked in the factories of new britain, my mother is a retired schoolteacher. i was raised to believe i need to live my life in a way to stand up for the bill class families of the state that has meant so much to my family. i passed the connecticut stem cell law which is saving lives and putting people to work. i went to congres
going to cost the economy one full percentage point off the gdp. do the math. one full percentage point is roughly what we are growing right now so that could easily turn us back to a recession. you might be asking yourself, why aren't they talking about it? why aren't they coming up in the debate? stapleton wants to know the same thing. he has been crumpling all of this. he has sort of a worst case scenario that could develop here, that isn't entirely unlikely scenario if they do nothing. spell it out, bit-by-bit. what do you see happening assuming there is no deal at all? >> assuming there is no deal, we're in a world of trouble for the american family. this is crisis or catastrophe. you know, government oftentimes doesn't work to resolve problems until they become crisis. waiting for a company in private sector to hit chapter 11 before refining the sales process. this has implication for every american family. we are talking about 90% of families in america paying higher taxes. talking about reduction in income of $3,500 per american family. talking about income loss of more than 6%
economies because so many manufacturing and technology jobs are moving, whether it is a matter of costs for going where the trained work force is. we're fortunate to have to governors here to talk about how that change affects their jobs and what they're doing to jump- start their economies which compete with one another. this could be fun. let me start with our guest. governor hickenlooper. i knew that was going to happen. most of us here are pretty much aware of california's budget crisis. can you give us a quick briefing on where colorado is and what you are trying to do to turn things around? >> our budget is just as dressed as almost every state in the country. we have been working trying to control costs, get our pension funds in line, our state employees have not had a raise in four years. it has been difficult all the way around. the real challenge has been to try and turn public sentiment and get people to recognize it without a strong economy. it will not solve any of these problems. we have been relentless in what we did, the bottom up process and we asked them what they want
numbers. >> reporter: he now has 160 employees. >> i think the economy is really picking up. >> reporter: ryan brauton is one of those new workers. he left his job in construction and decided to become a machinist. >> i chose manufacturing for a reason that it does not seem to be affected by the economy. >> reporter: he tripled his research and development budget during the recession. it has paid off. anderson is building this new plant. >> that's the reason why we're moving. we do have plans to continue hiring. >> reporter: nationally the economy has added an average of 145,000 jobs over the past three months. unemployment has not been this low since january of 2009. >> yes, we are finally below that 8% level, but it is still indicative of a slow go environment. >> reporter: much of the drop in the unemployment rate is attributed to the growth of part-time jobs. >> i didn't even get responses to my resume. >> reporter: 56-year-old amy crawford was forced to take a minimum wage job in a restaurant when she could not find full-time work as a home designer. >> it forces two in the bush. i'
got on the stage, i met this very spirited fellow who claimed to be mitt romney. >>> the economy is again the central focus as jobs numbers drop the unemployment rate below 8%. >> we made too much progress to return to the policies that led to the crisis in the first place. >> a sign of recovery just as voters head to the polls? we cover it all this morning, the policy fights emerging from the debate and the politics. what does the debate reveal about these two men. plus, a preview of the vice presidential debate this coming week. this morning, a special panel, joining us, obama campaign senior adviser, robert gibbs, former republican presidential candidate, newt gingrich. democratic strategist, hilary rosen. republican strategist, mike murphy, and nbc's chief white house correspond correspondent and political director, chuck todd. >>> and finally, what you haven't heard from arnold schwarzenegger this week, a revealing conversation with the former california governor. he talks politics and his personal failings. >> what would you like your sons to learn from your mistakes. >> i
city with all these events and at the same time we're creating jobs and we're making sure our economy is boosting at the same time. we've been very successful at creating conditions to make sure that our investors and our entrepreneurs in this city maintain their investor confidence, allowing them to innovate, to grow and to create jobs. and whether they are a neighborhood or a small business or an international clean tech company or new technology company, they've got investor confidence in our city. we're also creating investor confidence because we have in working closely with our controller and all the other financial organizations of our city and all of our departments, we're now on a more financially stable responsible path. we've done our pension reform, it's not 100 percent, we've gt a big chunk of it down and we're going to continue doing the smart things to make sure that pension is solid. and we've got structural reforms in our budget as well. we passed our first two-year budget. that's a wonderful accomplishment, one that i'm interested in to continue it make sure we
. 1457 -- 1456. our next guest is making a staggering call. he says the world economy may be down for the count. that prognosis by brookings called tiger standing for tracking indice for global economic recovery. political conflict, lack of fiscal decision-making are two of the key reasons for the dire warning. >> how does this factor into the market? in today's "closing bell exchange," cornell university professor and senior fellow at brookings, which authored that very study. also with us are savita from merrill lynch. very strong language in the report, global economic recovery hits the ropes but you do make the point that the u.s. certainly looks better than everyone else. so, the key question is, can the u.s. avoid catching the world's cold? >> that's a literal statement. the u.s. looks better than other xhis in the world but it's not a great spot to be in. with the amount of policy and political uncertainty, the u.s. -- even the u.s. recovery staying strong is certainly not a sure thing. they'll be buffeted by headwinds from abroad because china and india are not doing well.
on weakening global economy. >>> business software company public debut isthe biggest ipo since facebook. that was back in may. >>> to our top story tonight i don't know about you but i envision peace and olive branches when i picture the european union. look at the pictures. riots in the street. thousands of protesters. nazi flags flying to greet german chancellor angela merkel in greece. the e.u. was named the winner of the nobel peace prize somehow. with me is economist peter morici. so happy to have you here. i'm baffled. i don't know, can you -- >> i'm more than baffled. barack obama got one a couple years ago for doing nothing but his promise. riots in greece. people are eating out of garbage appeals and dumpsters in spain all because of austerity being imposed on them by the north and the european union get as peace prize for that? maybe they ought to roll tanks through athens and maybe they give them two of them. melissa: i don't know. these pictures we're looking at right now do not scream peace to me. you know, the chairman of the panel was a little testy at the press conferenc
the economy and now we know why. it has gone from concern to fear. they are fearful of the rollout of obamacare and taxarmageddon. tax rates will go back where they were 12 years ago and i had a businessman today tell me with tears in his eyes the luncheon we sponsored that if obama gets reelected and he continues to force the rollout of obamacare he will have to shut down his business and he has been in business in this town -- i meant st. louis -- since 1957. because of all of the requirements that are going to be forced on business people. this is very real and people are veey fearful of what can happen if we don't get some more certainty in this economy. gerri: all of these topics will be part of the debate tonight. you have experience with the baiting. you did pretty well. what would be your advice to the two candidates who will be sparring with each other in a round table? they will be seated next to each other. >> here is what i predict. first of all, governor romney and representative brian have three things in common going into a debate. governor romney showed that these t
't smell right when you think about where the economy is right now. >> what about those recent numbers in the latest job report and showing a dip in the unemployment. former chairman jack welch is skeptical. meaning that employers added a modest 114,000 jobs and the drop comes at a critical time for the president who is coming off a weak debate performance with romney. joining us is new york times best selling author out with the latest book. ann coulter. at this point in time the president said we will be at 5.6 and enjoying that part of the economy and a more comfortable position and now they are running with this new number. what is your response. >> it is noticeable that a lot of economist are saying this is not possible. you would need more than 114,000 jobbings. i don't think it matters except to broadcasting tv shows or writing for newspaper what number they throw up on the screen. people know they are out of work and in jobs and they are way overqualified for and working part-time. so many people are going out of business and under working now. 23 million unemployed difference
system for carbon if congress doesn't act. it's a massive tax that could cost the american economy more than half a trillion dollars a year. trillion with a t according to the national association of manufacturers. riley the former republican epa chief says something like that needs to be done. >> i think the epa has been led to a position where it's got to act. >> many disagree. among other things the epa cleanup operations of 40 years ago cost relatively little and most everyone benefits. in contrast an all out effort to lower the temperature of the planet assuming global warming is a real problem that humans can reverse would sheerl be the most complicated and expensive under taking in human history. >> the kinds of pollution in pittsburgh when i was growing up it's gone. i am grateful to that generation of the epa would help to make it happen. >> torpedo wood the epa latest mission reveals not a concern for the environment but a radical agenda that is less about the environment than most americans might image. as you will see later he discovered that in a college freshman dorm far f
the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand, grow stronger and get back to work. everyday you see all of us serving you, around the country, around the corner. us bank. lou: the unemployment rate dropping and dramatically. the jobs picture, however, is still stagnant. former cbo director, douglas holtz-eakin, joins us here in just moments to explain all of this and to give us a perspective on the economy going forward. on wall street, stocks finished the nasdaq down about 13 points. for the week, both the dow and s&p up 1% while the nasdaq posted a fractional gain. as i reported, the september unemployment report did come in at 7.8%, down from 8.2%, 114,000 jobs, 10,000 of them government jobs. unemployment is 15% with 23 million americans still unemployed, under employed, or having simply given up looking for work. crude oil dropping again on concerns of slow economic growth. crude oil down a dollar 83 under $90 a barrel. for california, prices statewide for gasoline are $4.99 a station, and some stations charges $6 a g
. germany is opposing the deal. >> lack of action from europe could risk pushing the global economy back into recession. >> you're watching "worldwide exchange," bringing you big news from around the globe. >>> welcome. "worldwide exchange" exchange. it's hump day. >> yes, it is. although it's been a shorter week for me. doesn't quite work that day. i guess i'm already over the hump. >> plenty coming up on today's program. >> indeed. let's take a look at where we'll be going around the world. >> won't attend imf meetings there as tensions between the two countries intensify. the u.s. government suing the nation's biggest mortgage lender. we'll take a look at how the global industry is faring. then it's off to paris. the stricken car maker is downgraded by moody's a day after demonstrators stage protests. we'll have details from the french capital. and we'll head to new york where there's an appetite for young, profits that is, up nearly a quarter from a year earlier. we'll take a look on a big day for earnings on wall street. and a big week that's coming up. joining us now onset, though,
to work. i do. i have spoken about it all over the country. i will help the american farmer, our economy and get america working. >>reporter: he said that policies the president want to pursue would hurt people this this part of the country. >>shepard: on issues, what are farmers say is at the top of the list? >>reporter: the big one is the estate tax. governor romney says he would repeal the estate tax if he becomes president. president obama would allow it to rise. the other big one is regulation. remember all of the hand wringing over the rumors the epa wanted to regulate farm dust? the labor department is looking at a rule to limit the amount of work that children under the age of 18 can do on farms. governor romney promised in his administration it would be different. >> you have to have regulation. you need regulation for markets to work effectively. i am going to cut back on regulation and put a cap on regulation. any new major regulation will have to be approved by congress. i'm not letting the politician off the hook. >>reporter: governor romney has been telling personal stories
of commerce to the retail federation. they were discussing the issue and how to get the economy back on track. wall street's top ceos and jpmorgan's dimon saying it's time for a deal. they are tired of kicking the can down the road. avoiding the fiscal cliff requires political sacrifice on both sides. they are not alone wanting a certain degree of state for the markets, and in turn, for investors. joining me is president for america's for tax reform. welcome back to the show. a pleasure to be with you here. >> great to be with you. gerri: they want more in taxes, cutting in spending. with friends like these, who needs enemies, grover? how do you react? >> read today's "new york times," there's an article about the idiot rich businessmen in france who raised taxes a little bit and cut spending and elect the socialist president of france who is now raising their personal income taxes to 75% and their capital gains taxes to 60%, and these very, very smart businessmen who brought this on themselves are running for the borders. gerri: nobody's suggesting that here. in fact -- >> they were not in f
who claimed to be mitt romney. >> the economy is again the central focus. the new jobs numbers drop the unm employment rate below 9%. >> we have made too much progress. >> a sign of recovery as the voters head to the polls. we cover it all this morning. the policy fight emerging from the debate and the policy. what does the debate reveal about these two men? >>> plus, our preview of the vice presidential debate this coming week. this morning, a special panel. obama campaign senior adviser robert gibbs. former republican presidential candidate newt gingrich. hilary rosen. mike murphy. and nbc's chief white house correspondent and political director chuck todd. >>> and finally, what you haven't heard from arnold schwarzenegger this week. a revealing conversation with the former california governor. he talks politics and his personal failings. >> what would you like your sons to learn from your mistakes? >> i think that they're not going to make the same mistakes. >>> from nbc news in washington, "meet the press" with david gregory. >>> and good morning. one month ago, and so much to g
that the economy is a top issue, you run into a risk of focusing on too many items as opposed to jobs and economic issues. host: there will also be a foreign policy debate coming up on october 22. is this a sort of preview of that debate? will this be a preview for the obama camp to see what they will be talking about, coming up? caller: it will be a chance for governor romney to do a preview, yes. the thing that i think occurred many times before, romney camp -- came out and named a lot of these things fairly forcefully. from what we saw yesterday, this will be an even stronger reputation of his view on those issues. getting out on the campaign trail at these paul ryan events, particularly when it comes to the issue of things like foreign aid and how this country deals with the resources when it comes to other places, we do not exactly see that relationship being reciprocal. it is something that has gotten a surprising amount of attention on the trail over the last few weeks. it could be an area where the mitt romney campaign is looking forward as they decided to hold this speech. host: one piece
Search Results 0 to 49 of about 625 (some duplicates have been removed)